Perspective18 Feb 2022 14:05
Let's put this into perspective, on the 3rd of Feb 2021 it was announced that 'GS Fintech will apply to the Financial Conduct Authority ("FCA") to be granted an Authorised Payment Institution ("API") licence in due course'; many of us were wondering as to why the application to the FCA was taking so much time when on the 5th of Oct 2021, and, out of the blue, the conditional Angra acquisition was announced. This was followed up by the acquisition of the Lithuanian Crypto Exchange Licence. Today's news marks an important milestone for GST and confirms that it's set on the path to building 'a blockchain enabled neo-banking business'. It should be remembered that on the 20th of Oct 2021, Shayne Tan stated his 'goal is to ensure that GST continues to innovate and is fully focused on implementing our planned solutions and delivering shareholder value.' Given today's news, our outlook looks very promising.